SHOWTOWN: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
SHOWTOWN
Largest movements
- Receivables within one year -€140,804
down €140,804 (-49.1%), from €286,863 to €146,059
of which Other amounts receivable: -€74,168
- Tangible fixed assets -€42,927
down €42,927 (-5.4%), from €790,881 to €747,954
of which Land and buildings: -€83,514
- Reserves -€71,552
down €71,552 (-13.2%), from €542,950 to €471,398
of which Distributable reserves: -€63,021
- Debts after one year -€51,904
down €51,904 (-5.4%), from €961,576 to €909,673
- Short-term financial debts -€29,193
down €29,193 (-25.5%), from €114,573 to €85,379
- Financial charges -€377,119
down €377,119 (-95.2%), from €396,304 to €19,185
- Gross operating margin +€68,602
up €68,602 (+27.1%), from €253,469 to €322,072
- Taxes -€17,110
down €17,110 (-98.6%), from €17,346 to €235
- Staff costs -€16,142
down €16,142 (-96.8%), from €16,683 to €541
- Other operating charges -€11,498
down €11,498 (-42.5%), from €27,033 to €15,535
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,370,069 | €2,208,099 | -€161,970 | -6.8% |
| Fixed assets | 21/28 | €1,969,109 | €1,931,307 | -€37,802 | -1.9% |
| Tangible fixed assets | 22/27 | €790,881 | €747,954 | -€42,927 | -5.4% |
| Land and buildings | 22 | €790,881 | €707,367 | -€83,514 | -10.6% |
| Plant, machinery and equipment | 23 | - | €8,733 | +€8,733 | |
| Furniture and vehicles | 24 | - | €31,853 | +€31,853 | |
| Financial fixed assets | 28 | €1,178,228 | €1,183,353 | +€5,125 | +0.4% |
| Current assets | 29/58 | €400,961 | €276,792 | -€124,168 | -31.0% |
| Amounts receivable after more than one year | 29 | €500 | €500 | = | 0.0% |
| Other amounts receivable | 291 | €500 | €500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €286,863 | €146,059 | -€140,804 | -49.1% |
| Trade receivables | 40 | €212,695 | €146,059 | -€66,636 | -31.3% |
| Other amounts receivable | 41 | €74,168 | - | -€74,168 | |
| Cash at bank and in hand | 54/58 | €21,831 | €26,468 | +€4,637 | +21.2% |
| Deferred charges and accrued income | 490/1 | €91,767 | €103,765 | +€11,998 | +13.1% |
| Total equity and liabilities | 10/49 | €2,370,069 | €2,208,099 | -€161,970 | -6.8% |
| Equity | 10/15 | €624,050 | €552,498 | -€71,552 | -11.5% |
| Contributions | 10/11 | €81,100 | €81,100 | = | 0.0% |
| Capital | 10 | €81,100 | €81,100 | = | 0.0% |
| Issued capital | 100 | €81,100 | €81,100 | = | 0.0% |
| Reserves | 13 | €542,950 | €471,398 | -€71,552 | -13.2% |
| Non-distributable reserves | 130/1 | €8,110 | €8,110 | = | 0.0% |
| Legal reserve | 130 | €8,110 | €8,110 | = | 0.0% |
| Tax-exempt reserves | 132 | €118,724 | €110,193 | -€8,531 | -7.2% |
| Distributable reserves | 133 | €416,117 | €353,095 | -€63,021 | -15.1% |
| Amounts payable | 17/49 | €1,746,019 | €1,655,601 | -€90,418 | -5.2% |
| Amounts payable after more than one year | 17 | €961,576 | €909,673 | -€51,904 | -5.4% |
| Financial debts | 170/4 | €961,576 | €909,673 | -€51,904 | -5.4% |
| Amounts payable within one year | 42/48 | €780,443 | €741,928 | -€38,514 | -4.9% |
| Current portion of amounts payable after more than one year | 42 | €51,054 | €51,904 | +€850 | +1.7% |
| Financial debts | 43 | €114,573 | €85,379 | -€29,193 | -25.5% |
| Credit institutions | 430/8 | €114,573 | €85,379 | -€29,193 | -25.5% |
| Trade debts | 44 | €93,420 | €101,145 | +€7,725 | +8.3% |
| Suppliers | 440/4 | €93,420 | €101,145 | +€7,725 | +8.3% |
| Taxes, remuneration and social security | 45 | €49,821 | €26,156 | -€23,665 | -47.5% |
| Taxes | 450/3 | €48,995 | €26,156 | -€22,839 | -46.6% |
| Remuneration and social security | 454/9 | €826 | - | -€826 | |
| Other amounts payable | 47/48 | €471,575 | €477,344 | +€5,769 | +1.2% |
| Accrued charges and deferred income | 492/3 | €4,000 | €4,000 | = | 0.0% |
| Non-recurring operating income | 76A | - | €88,935 | +€88,935 | |
| Remuneration, social security and pensions | 62 | €16,683 | €541 | -€16,142 | -96.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,817 | €88,472 | +€2,655 | +3.1% |
| Other operating charges | 640/8 | €27,033 | €15,535 | -€11,498 | -42.5% |
| Non-recurring operating charges | 66A | €63,200 | €288,037 | +€224,837 | +355.8% |
| Gross operating margin | 9900 | €253,469 | €322,072 | +€68,602 | +27.1% |
| Operating profit (loss) | 9901 | €60,737 | -€70,513 | -€131,250 | |
| Financial income | 75/76B | €13,050 | €18,382 | +€5,332 | +40.9% |
| Recurring financial income | 75 | €13,050 | €18,382 | +€5,332 | +40.9% |
| Financial charges | 65/66B | €396,304 | €19,185 | -€377,119 | -95.2% |
| Recurring financial charges | 65 | €396,304 | €19,185 | -€377,119 | -95.2% |
| Profit (loss) for the period before taxes | 9903 | -€322,517 | -€71,317 | +€251,200 | +77.9% |
| Income taxes | 67/77 | €17,346 | €235 | -€17,110 | -98.6% |
| Profit (loss) for the period | 9904 | -€339,863 | -€71,552 | +€268,311 | +78.9% |
| Transfer from tax-exempt reserves | 789 | - | €8,531 | +€8,531 | |
| Profit (loss) for the period to be appropriated | 9905 | -€339,863 | -€63,021 | +€276,841 | +81.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.